We are given a saturated solution containing both MgCO$_3$ and Ag$_2$CO$_3$. Both salts produce CO$_3^{2-}$ ions, so the concentration of CO$_3^{2-}$ is common to both equilibria.
Step 1: Find the carbonate ion concentration from MgCO$_3$
The solubility equilibrium for MgCO$_3$ is:
\[
\text{MgCO}_3(s) \rightleftharpoons \text{Mg}^{2+}(aq) + \text{CO}_3^{2-}(aq)
\]
The solubility product expression is:
\[
K_{sp}(\text{MgCO}_3) = [\text{Mg}^{2+}][\text{CO}_3^{2-}]
\]
Assuming the corrected concentration of Mg$^{2+}$ is \( [\text{Mg}^{2+}] = 3.2 \ \text{M} \), we have:
\[
[\text{CO}_3^{2-}] = \frac{K_{sp}(\text{MgCO}_3)}{[\text{Mg}^{2+}]} = \frac{1.6 \times 10^{-6}}{3.2} = 5 \times 10^{-7} \ \text{M}
\]
Step 2: Use CO$_3^{2-$ concentration to find [Ag$^+$]}
The solubility equilibrium for Ag$_2$CO$_3$ is:
\[
\text{Ag}_2\text{CO}_3(s) \rightleftharpoons 2 \text{Ag}^{+}(aq) + \text{CO}_3^{2-}(aq)
\]
The solubility product expression is:
\[
K_{sp}(\text{Ag}_2\text{CO}_3) = [\text{Ag}^{+}]^2 [\text{CO}_3^{2-}]
\]
Substitute the known values:
\[
8.0 \times 10^{-12} = [\text{Ag}^{+}]^2 \cdot (5 \times 10^{-7})
\]
\[
[\text{Ag}^{+}]^2 = \frac{8.0 \times 10^{-12}}{5 \times 10^{-7}} = 1.6 \times 10^{-5}
\]
\[
[\text{Ag}^{+}] = \sqrt{1.6 \times 10^{-5}} \ \text{M}
\]
\[
\boxed{[\text{Ag}^{+}] = \sqrt{1.6 \times 10^{-5}} \ \text{M}}
\]